Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

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bw81 said:
Im still sat on the fence :p Cant make head nor tail of this rally.
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oh i wish i had your discipline BW. i was being really good yesterday but today i feel a little more trigger happy. i think i'll do some breathing exercises! :sleep:
 
dr.blix said:
oh i wish i had your discipline BW. i was being really good yesterday but today i feel a little more trigger happy. i think i'll do some breathing exercises! :sleep:
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Ohh I have a reason for not being trigger happy Dr B. Ive been ferrying my son backwords and forwards to the hospital over the last few days, he broke both his bones in his right leg, so havnt been focused on the markets. Im sure i would have been trying a few shorts by now, what a mammoth move on the FTSE hey?
 
comon FTSE, think house bricks, think lead balloons, think labour party opinion polls...

what initially looks like consolidation is really a very slow creeping up trend i think.

we're still getting HH + HL
 
bw81 said:
Ohh I have a reason for not being trigger happy Dr B. Ive been ferrying my son backwords and forwards to the hospital over the last few days, he broke both his bones in his right leg, so havnt been focused on the markets. Im sure i would have been trying a few shorts by now, what a mammoth move on the FTSE hey?
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Sorry to hear that BW, looking forward to having you back.

And btw, the EURGBP range b/o this morning was lervley, +45 as we speak.
 
dr.blix said:
comon FTSE, think house bricks, think lead balloons, think labour party opinion polls...

what initially looks like consolidation is really a very slow creeping up trend i think.

we're still getting HH + HL
Click to expand...

My strategy at the moment is to wait for one of three possible outcomes.

1. Wait for price to reach 4500 and I will definatley put a short on with a 30 point stop the R/R will be worth it at this level.

2. Wait for a breach of the monster uptrend and start playing shorts to support levels.

3. If my short gets stopped out above 4500, we are in for a monster move up as far as next resistance at 4675 so I will be looking for longs on a retrace.
 
lapalabra said:
Price should reach R1 @ '76 but I just don't like that res we're sticking around now - so out of second position for +12 and need to take a break - left a trailing stop on EURGBP
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I should just have left that position with a limit order for '76 - nerves against judgment...
 
lapalabra said:
Sorry to hear that BW, looking forward to having you back.

And btw, the EURGBP range b/o this morning was lervley, +45 as we speak.
Click to expand...

Thanks, lapster (y)

Hey good trade my friend :clap: those break outs are defo coming regularly I see. Hope to be catching one or two of those soon.
 
What if we get a false break out above 4,500 but then market dips back?

What do you guys use to spot false break outs? I'm assuming alot of the people here don't have access to volume indicators.

:)
 
bw81 said:
Ohh I have a reason for not being trigger happy Dr B. Ive been ferrying my son backwords and forwards to the hospital over the last few days, he broke both his bones in his right leg, so havnt been focused on the markets. Im sure i would have been trying a few shorts by now, what a mammoth move on the FTSE hey?
Click to expand...

sorry to hear that BW, hope he has a speedy recovery. :)
 
Manya1983 said:
What if we get a false break out above 4,500 but then market dips back?

What do you guys use to spot false break outs? I'm assuming alot of the people here don't have access to volume indicators.

:)
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The false break out is always a problem, and without volume is difficult. For me I wouldnt be going long above 4500 until I see a sustained breakout above with a tleast a close above and a pattern retracement which dosnt breach below 4500.

Again this is all speculation at this point, as we dont know if in deed it will break above 4500 yet. Time will tell.
 
Manya1983 said:
What if we get a false break out above 4,500 but then market dips back?

What do you guys use to spot false break outs? I'm assuming alot of the people here don't have access to volume indicators.

:)
Click to expand...

I don't know how to, so I try to wait for a pullback to the break out level which limits my loss if price continues against me past the level of the b/o.

Sometimes if other markets are contrary it may look dodgy so I stay out, but generally I just get caught and without volume have to accept it.

Fatalistic I know, but open to ideas?
 
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